A year has passed since I last wrote about Mapletree North Asia Commercial Trust (MNACT); check it out here. Back then, MNACT was hit with a double whammy in the form of Hong Kong protests followed by the Covid-19 pandemic.
The Reit took a tumble and closed at $0.790 in 14th May 2020. Today, the dust has settled a little and it closed at $1.09 as of 29th Apr, a YTD return of 8.3%. Despite the price improvement, I believe that better days are ahead for this Reit.
As I have done a thorough analysis in my previous blog post, I won’t go so in-depth this time around; instead, I will revisit my valuations and share my thoughts on the Gangnam property acquisition.
Similar to last year, I will be using Sum of the Parts valuation and Discounted Dividend Model to determine its intrinsic value. As interest rates have changed,